US Bancorp DE Has $540,000 Stock Position in Portland General Electric (NYSE:POR)

US Bancorp DE lowered its position in shares of Portland General Electric (NYSE:POR - Free Report) by 35.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,374 shares of the utilities provider's stock after selling 6,744 shares during the quarter. US Bancorp DE's holdings in Portland General Electric were worth $540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Portland General Electric in the 3rd quarter worth approximately $596,000. Nordea Investment Management AB grew its holdings in Portland General Electric by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock worth $43,058,000 after buying an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its holdings in Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after buying an additional 81,701 shares in the last quarter. Synergy Asset Management LLC grew its holdings in Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after buying an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Portland General Electric by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider's stock worth $4,114,000 after buying an additional 10,643 shares in the last quarter.

Remove Ads

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.54% of the company's stock.

Portland General Electric Stock Up 1.4 %

POR traded up $0.63 during trading on Friday, reaching $44.94. 1,758,350 shares of the stock traded hands, compared to its average volume of 1,173,766. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock's 50-day simple moving average is $42.58 and its two-hundred day simple moving average is $45.35.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, equities research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.45%. Portland General Electric's dividend payout ratio is currently 66.45%.

Analyst Upgrades and Downgrades

POR has been the subject of a number of recent analyst reports. UBS Group reissued a "neutral" rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Jefferies Financial Group decreased their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Barclays increased their price target on Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. KeyCorp decreased their price target on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Finally, Bank of America decreased their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research note on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $47.00.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.